CapitalSource, Inc. (CSE): Alpine Associates, Highfields Capital Management, Harvard Management Co are Getting on Board

CapitalSource, Inc. (NYSE:CSE) was in 30 hedge funds’ portfolio at the end of the third quarter of 2013. CSE has experienced an increase in support from the world’s most elite money managers lately. There were 16 hedge funds in hedge fund experts Insider Monkey’s database with CSE positions at the end of the previous quarter.

CapitalSource, Inc. (NYSE:CSE)

According to Ticker Report, “CapitalSource (NYSE:CSE) declared a quarterly dividend on Tuesday, December 3rd,¬†Analyst Ratings¬†reports. Shareholders of record on Friday, December 13th will be given a dividend of 0.01 per share on Friday, December 27th. This represents a $0.04 dividend on an annualized basis and a yield of 0.29%. The ex-dividend date of this dividend is Wednesday, December 11th.”

Consequently, let’s take a peek at the recent action surrounding CapitalSource, Inc. (NYSE:CSE).

What does the smart money think about CapitalSource, Inc. (NYSE:CSE)?

At the end of the third quarter, a total of 30 of the hedge funds we track were long in this stock, a change of 88 percent from one quarter earlier. With the smart money’s positions undergoing their usual ebb and flow, there exists a few key hedge fund managers who were increasing their holdings substantially.

When looking at the hedgies followed by Insider Monkey, Ken Fisher’s Fisher Asset Management had the number one position in CapitalSource, Inc. (NYSE:CSE), worth close to $80.7 million, comprising 0.2 percent of its total 13F portfolio. On Fisher Asset Management’s heels is Amy Minella of Cardinal Capital, with a $61.9 million position; the fund has 3.8 percent of its 13F portfolio invested in the stock. Some other peers that hold long positions include Robert Emil Zoellner’s Alpine Associates, Jonathon Jacobson’s Highfields Capital Management and Jim Simons’s Renaissance Technologies.

As industrywide interest jumped, specific money managers have jumped into CapitalSource, Inc. (NYSE:CSE) headfirst. Alpine Associates, managed by Robert Emil Zoellner, initiated the most outsized position in CapitalSource, Inc. (NYSE:CSE). Alpine Associates had 47.3 million invested in the company at the end of the quarter. Jonathon Jacobson’s Highfields Capital Management also made a $40.8 million investment in the stock during the quarter. The following funds were also among the new CSE investors: Jane Mendillo’s Harvard Management Co, Glenn Russell Dubin’s Highbridge Capital Management, and Phill Gross and Robert Atchinson’s Adage Capital Management.

How are insiders trading CapitalSource, Inc. (NYSE:CSE)?

Bullish insider trading is particularly usable when the company in question has experienced transactions within the past half-year. Over the last 180-day time frame, CapitalSource, Inc. (NYSE:CSE) has experienced zero unique insiders buying, and 1 insider sales (see the details of insider trades here).

Let’s check out hedge fund and insider activity in other stocks similar to CapitalSource, Inc. (NYSE:CSE). These stocks are PHH Corporation (NYSE:PHH), Credit Acceptance Corp. (NASDAQ:CACC), Cash America International, Inc. (NYSE:CSH), Nelnet, Inc. (NYSE:NNI), and First Cash Financial Services, Inc. (NASDAQ:FCFS). This group of stocks belong to the credit services industry and their market caps are similar to CSE’s market cap.

Company Name # of Hedge Funds # of Insiders Buying # of Insiders Selling
PHH Corporation (NYSE:PHH) 24 1 1
Credit Acceptance Corp. (NASDAQ:CACC) 15 0 3
Cash America International, Inc. (NYSE:CSH) 16 0 2
Nelnet, Inc. (NYSE:NNI) 21 0 2
First Cash Financial Services, Inc. (NASDAQ:FCFS) 8 0 1

At the end of Q3, CapitalSource, Inc. was the most widely held credit services industry equity stock among the hedge funds Insider Monkey tracks.



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